Kirkland Represents Bristol-Myers Squibb on Acquisition of Celgene Corporation for Approximately $74 Billion

03 January 2019

Kirkland & Ellis LLP advised Bristol-Myers Squibb Company (NYSE: BMY) on its agreement to acquire Celgene Corporation (NASDAQ: CELG) in a cash and stock transaction with an equity value of approximately $74 billion. Under the terms of the agreement, Celgene shareholders will receive 1.0 Bristol-Myers Squibb share and $50.00 in cash for each share of Celgene. Celgene shareholders will also receive one tradeable Contingent Value Right (CVR) for each share of Celgene, which will entitle its holder to receive a payment for the achievement of future regulatory milestones. The transaction will create a leading focused specialty biopharma company well positioned to address the needs of patients with cancer, inflammatory and immunologic disease and cardiovascular disease through high-value innovative medicines and leading scientific capabilities. The transaction is subject to customary closing conditions and regulatory approvals and is expected to complete in the third quarter of 2019.